Rent, population, and median household income are important factors to consider for a 1031 exchange in Portland due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Portland, Maine is a part of the Portland-South Portland, ME metropolitan area, and contains 9 zip codes, including: 04109, 04124, 04102, 04112, 04123, and 04103.
Portland Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Portland, ME metropolitan area was $1,284, which is 19.00% lower than 2014 average rent. This represents a compounded annual growth rate of 3.54%. 2019 vacancy in Portland, ME was 3.90%.
The total population of the city of Portland, ME has grown 0.34% since 2010. As of 2018, the population was 66,417. The median household income of the Portland was $56,977, which is 5.50% lower than the national average.
- metropolitan area Portland-South Portland, ME
- avg rent $1,284
- rent growth 19.00%
- vacancy 3.90%
- median income $56,977
- population (2018) 66,417
- population growth 0.34%
- vs. nat'l avg 5.50%
- zip codes 04101 04102 04103 04104 04109 04112 04122 04123 04124
